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Intermediate Algebra – Student Workbook – Second Edition 2013

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Lesson 3b <strong>–</strong> More Exponential Functions<br />

Assessment<br />

3. The following data set gives the value of a car over time.<br />

Years since purchase Value in Dollars<br />

0 21,425<br />

1 18,097<br />

2 15,137<br />

3 12,749<br />

5 8,960<br />

8 5,311<br />

a) Determine an exponential regression equation for this data set. Clearly indicate<br />

what each variable represents.<br />

b) Use the regression equation from part a to predict the value of the car after 12<br />

years.<br />

c) Based on the regression equation, at what percent rate is the car’s value<br />

decreasing each year?<br />

Scottsdale Community College Page 142 <strong>Intermediate</strong> <strong>Algebra</strong>

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